Adaptive Materials' $4.7M military contract leads to Ann Arbor job creation

Thursday, March 18, 2010 | Source: Concentrate
Adaptive Materials is adapting quite well to the military industrial complex. Its latest $4.7 million army contract is propelling a new round of hiring for the Ann Arbor-based start-up.

Excerpt:

Military contracts are proving profitable for growing Adaptive Materials, allowing the Ann Arbor-based start-up to expand its capacity and staff.

The innovative fuel cell firm just signed a $4.7 million contract with the U.S. Army to supply its signature fuel cells. That contract could grow to be worth $5.6 million and another significant multi-million dollar military contract is expected to be announced this spring. So far the company has scored $44 million worth of defense contracts. That will equal about 70 percent of its business in the first and second quarters of this year.

"Military has always been a key piece of our business plan," says Michelle Crumm, chief business officer for Adaptive Materials. "That will continue for us. It's a key piece of the puzzle."

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Energy, Energy, Military, Renewable Energy 

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